Shervin Neman, whose given name is Shervin Davatgarzadeh, 31, Century City, California, was arrested by FBI special agents after he was charged with running a Ponzi scheme and then bilking another victim out of millions of dollars that he used to pay back earlier victims after the S.E.C. took him to court.
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Kareem Serageldin, the former Managing Director/Global Head of Structured Credit in the Investment Banking Division of Credit Suisse Group, pled guilty to mortgage-related fraud.
Bryan Joseph Lenton, 33, Oakdale, Minnesota, was sentenced for his role in a mortgage fraud scheme that caused losses to lenders exceeding $7 million.
Bank of America will pay $500 million to settle lawsuits by investors nationwide, including the Oregon Public Employees Retirement Fund, against Countrywide Financial Corp.
N.M.M.S.R. Incorporated, doing business as Making Home Affordable USA, and its owner Jason Keating, Maumee, Ohio, are the subjects of a civil lawsuit charging them with multiple violations of Ohio’s consumer laws.
David Romo, 42, Folsom, California, was sentenced by United States District Judge Garland E. Burrell, Jr. to 10 years and one month in prison for mail fraud related to a real estate investment scheme that defrauded investors of more than $6.9 million.
Lynda Finch-Estrada, 54, Las Vegas, Nevada, William Chrissikopoulos, 43, Las Vegas, Alan Dornhuber, 63, Las Vegas, Nevada, and William Patterson, 51, El Monte, California, were charged in a 15 count indictment returned by a grand jury. The defendants are alleged to have participated in mortgage and foreclosure rescue schemes.
Wayne Reed Ogden, 48, Koosharem, Utah, charged with wire and securities fraud in connection with a Ponzi scheme involving real estate, pleaded guilty in federal court to one count of wire fraud and one count of securities fraud.
Daniel A. Vivas, 40, Oklahoma City, Oklahoma, was sentenced to 27 months in prison for his role in a bank fraud conspiracy that caused more than $2.5 million in losses to various banks and mortgage lenders.
Fred Haywood, 42, Chicago, Illinois, a former loan officer, was sentenced to more than 12 1/2 years in federal prison for engaging in a mortgage fraud scheme involving 65 real estate transactions with properties located mostly in economically depressed neighborhoods on the city’s south side which netted him personally more than $700,000.